AIG asking the Fed for MORE bailout $$ Hhahahaha cash needed before Monday's Earnings

Discussion in 'Wall St. News' started by bond tr4der, Nov 8, 2008.


    AIG in talks with Fed over new bail-out

    By Francesco Guerrera in New York

    Published: November 8 2008 02:00 | Last updated: November 8 2008 02:00

    AIG is asking the US government for a new bail-out less than two months after the Federal Reserve came to the rescue of the stricken insurer with an $85bn loan, according to people close to the situation.

    AIG's executives were last night locked in negotiations with the authorities over a plan that could involve a debt-for-equity swap and the government's purchase of troubled mortgage-backed securities from the insurer.

    People close to the talks said the discussions were on-going and might still collapse, but added that AIG was pressing for a decision before it reports third-quarter results on Monday.

    AIG's board is due to meet on Sunday to approve the results
    and discuss any new government plan, they added.

    The moves come amid growing fears AIG might soon use up the $85bn cash infusion it received from the Fed in September, as well as an additional $37.5bn loan aimed at stemming a cash drain from the insurer's securities lending unit.
  2. kxvid


    Omg too funny. And this is right after they went to the govt-backed commercial paper market to borrow money to pay their federal loan payment.
  3. What a Fu$$$ng black hole!
    It seems these crooks are going through money faster than the entire US government!
  4. if the us government guarented the debt of aig then moodys and s&p would not downgrade them. actually upgrade them. all the money that they have used was basically money they had to give to counterparties if there debt went below a level. so if the govt is backing them, they might as well back the debt and not have to come up with all this money.
  5. once again, our almighty fed caught in action lol
  6. To AIG - go f^ck yourselves! You are BEGGING for money - BEGGARS CANNOT BE CHOOSERS!!! You are bargaining for a better deal for AIG's owners - AT THE US CITIZENS' EXPENSE!
  7. clacy


    It's getting more and more obvious that the Paulson and Bernanke have no clue what they're doing or how to solve this problem. They're only solution is to throw money at these companies, yet it makes no difference.
  8. Let them go down. Then take out the exec's Monday morning and shoot them...literally
  9. futures up over 30 points with this news????wtf
  10. futures are closed....
    #10     Nov 8, 2008